As an old codger, that seems so weird to say that out loud. Unfortunately, that seems to be the way things are going.
First Brands (Fram) bankruptcy
- Thread starter Alien
- Start date
It takes luck to kill a known brand.
To kill Fram wow. Pure talent right there.
To kill Fram wow. Pure talent right there.
From my point, lots of factors at play, led by apparently greedy incompetent management, the almost insane lust for profits and a total disregard for the American workers trying to make a quality product and survive in a very unstable market. Corporate mindsets that could care less about destroying lives, incomes and communities, that seeming forgot the "Proudly made in the USA"
We may find out who knew what and maybe some further details I hope
Honda alone probably sold a million 15400-PLM-A02 Fram sourced filters a year, the sales numbers at Walmart, Advance and Auto Zone had to be staggering.
Hopefully there will be some accountability and hopefully some resulting gprosecution. There are several communities that are at the "Somebody get a rope!" Point. There are already some charges for fraud being filed from what I read from various news sources.
Surely someone will buy the FRAM name once the company fully declares chapter 7. They've been a huge name in the automotive sector for a decade short of a century, would be kind of nuts to never see an orange can again.
Honda has a alternative filter made in Japan part # ends in A03, they also have HAMP (Honda aftermarket auto parts) which may be sourced here. Regardless, between Fram, Champion and others, there's a really big hole in the US supply chain. I'd really like to see a US based company step in here, there's a real opportunity, with existing factories and trained workforce ready to go back to work.
garageman402
$100 Site Donor 2026
Then what? The national business model is take over a company with good products & reputation, bleed it dry then declare bankruptcy so you don’t have to pay for your misdeeds.
Functionally for those involved is no different than a company that sells out and is moved, or simply moves production overseas. Happens all the time, but the only difference is this one is playing out in the headlines.
garageman402
$100 Site Donor 2026
Duplicate post. Phone issues.
CleanSump
Site Donor 2026
This is playing out in the headlines because it isn't just a normal buy it, suck it dry, and close it or sell off the parts as is often the course with investment companies.
Patrick and Edward James were arrested and charged in federal court in New York with conspiracy, money laundering and wire and bank fraud. They defrauded investors, stole from the subcompanies they controlled, and played where's the peanut with the money as they stole it.
Otherwise, it would just be another big name brands go bankrupt.
Patrick and Edward James were arrested and charged in federal court in New York with conspiracy, money laundering and wire and bank fraud. They defrauded investors, stole from the subcompanies they controlled, and played where's the peanut with the money as they stole it.
Otherwise, it would just be another big name brands go bankrupt.
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It’s hard sometimes but charged, investigated, etc is not guilty in this country.
They are deemed to be considered innocent until proven guilty or not guilty which has not yet been determined.
Even then, a verdict of Not Guilty does not necessarily mean they are innocent, just that the state failed to prove guilt.
I have to say, the Japanese owned/joint venture companies really do not suffer from this problem. They have "100 year" plans. It is a uniquely a Western business culture practice to do what First Brands did. I rather work for a company that is foreigner owned in America, than work for an American company. The work culture is better.
I have worked with all the manufacturing companies, and they don' have a 100 year plan. They make commodity products. 100 year plan is Fiction.
The simple reality is the fed and government conjured too much money into existence. It was like handing a petty thief a gun. Too easy for the fraudsters to get funding. It blew a stock bubble, a housing bubble, and a private credit bubble. First brands is the beginning of the latter to unwinding. Black Rock and Blue Owl - two of the biggest PE funds are not allowing withdrawals.
Plus they can get a Pardon!
Huge and incorrect generalization
Not all American companies are like the huge exemplar takeover messes.
